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Fossil fuels

A new report says worldwide oil demand will peak in 2029. Some oil industry observers are skeptical.

by Caleigh Wells
Jun 13, 2024
Even if the prediction's right, Big Oil will be with us much longer.
Even if the IEA's estimate is right, petroleum will continue to be a massive industry past 2029.
Brandon Bell/Getty Images
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U.S. banks remain the world's largest funders of fossil fuels

by Caleigh Wells
May 16, 2024
Banks have invested trillions of dollars since the Paris Agreement went into effect.
JPMorgan Chase was the number one fossil fuel financier in the world last year, according to the 15th Banking on Climate Chaos report.
Chris Hondros/Getty Images
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Sustainable jet fuel costs twice as much as fossil fuel. New federal subsidies aim to close that gap.

by Caleigh Wells
May 2, 2024
The Biden administration wants increase the use of sustainable aviation fuel around 180 fold by 2030.
Right now, the aviation industry uses about 16 million gallons of sustainable aviation fuel each year. The Biden administration is hoping to hit 3 billion gallons by 2030.
Justin Sullivan/Getty Images
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U.S. carbon emissions fell in 2023, mainly thanks to natural gas displacing coal at power plants

by Henry Epp
Feb 22, 2024
Emissions from transportation, on the other hand, were up.
Coal has increasingly been replaced by alternative fuel sources, like natural gas and renewables.
Chip Somodevilla/Getty Images
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UAE intended to use COP28 climate summit to push oil deals

by Justin Rowlatt
Nov 27, 2023
Leaked documents obtained by the BBC show the United Arab Emirates, a major fossil fuel producer, was looking to strike oil deals at COP28.
New documents obtained by the BBC show that the United Arab Emirates planned do business deals involving oil and gas at COP28. Above, an oil drill pump in Dubai.
Giuseppe Cacace/AFP via Getty Images
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More than 130 major companies press world leaders to phase out fossil fuels by 2035

by Nova Safo
Oct 24, 2023
Companies including Ikea, Nestle, Unilever and Volvo are saying that they're already grappling with the costs of the climate crisis.
Unilever is among the companies that signed on to a recent letter ahead of COP28 urging world leaders to cut fossil fuel use.
Christopher Furlong/Getty Images
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Are there signs of a slowdown for U.S. natural gas?

by Lily Jamali
May 17, 2023
The number of U.S. rigs has dropped along with natural gas prices. Here's what that means for the "shale revolution."
Joe Raedle/Getty Images
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Big banks are succeeding at turning a profit, struggling to meet climate commitments

by Ali Budner
Apr 27, 2023
Two recent studies show the biggest banks are still not doing enough to meet the goals of the Paris Climate agreement.
If banks over-invest in fossil fuels, "They're going to suffer consequences in terms of profitability later on," said UC Santa Cruz professor Galina Hale.
Frederic J. Brown/AFP via Getty Images
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Energy security and access headline Houston conference

by David Brancaccio , Alex Schroeder and Jarrett Dang
Mar 10, 2023
Access to energy when it's most needed seemed to be on everyone's mind at CERAWeek in Houston, research fellow Andy Uhler says.
Haitham Al Ghais, right, secretary general of OPEC, speaks with Carlos Pascual of S&P Global Commodity Insights during the CERAWeek conference.
Mark Felix/AFP via Getty Images
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War and oil profits mean more investment in fossil fuels — and green energy

by David Brancaccio and Jarrett Dang
Feb 24, 2023
Oil giants are going to invest in more oil while also preparing for a greener future, says The Economist's Vijay Vaitheeswaran.
David McNew/Getty Images
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